City Council Meeting Date: June 17, 2025
To: Mayor and City Council
From: David Bennett, P.E., Public Works Director/City Engineer
Brenda Angelstad, Finance Director
Title
Consider Resolution Providing for the Issuance and Sale of General Obligation Street Reconstruction and Equipment Bonds, Series 2025B in the Proposed Aggregate Principal Amount of $4,440,000.
Body
Action Requested:
The Northfield City Council considers approving the attached Resolution Providing for the Issuance and Sale of General Obligation Street Reconstruction and Equipment Bonds, Series 2025B in the Proposed Aggregate Principal Amount of $4,440,000.
Summary Report:
It is requested that the City Council approve the Resolution authorizing the sale of bonds to finance various capital projects to include the 2025 Street Reclamation and Overlay and Wall Street Road and Equipment Certificates for the Fire Tanker.
Nick Anhut with Ehlers will be in attendance virtually at the meeting to present the background documents and recommendations.
Alternative Options:
None recommended.
Financial Impacts:
For more detail regarding annual debt payments, see attachments.
Tentative Timelines:
July 22, 2025 - Council Consideration of Resolution Sale of Bonds
August 14, 2025 - Closing Date of Bond Sale and presented to Council